UTStarcom (UTSI) Given a $5.00 Price Target at Northland Securities

UTStarcom (NASDAQ:UTSI) received a $5.00 price target from research analysts at Northland Securities in a research report issued on Saturday, November 25th. The firm presently has a “buy” rating on the Wireless communications provider’s stock. Northland Securities’ price target points to a potential downside of 22.36% from the company’s previous close.

A number of other research firms have also issued reports on UTSI. Zacks Investment Research raised UTStarcom from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research report on Wednesday, October 18th. ValuEngine raised UTStarcom from a “sell” rating to a “hold” rating in a research report on Friday, September 15th.

Shares of UTStarcom (NASDAQ:UTSI) traded up $0.21 during trading on Friday, reaching $6.44. The company had a trading volume of 415,658 shares, compared to its average volume of 82,755. UTStarcom has a 12 month low of $1.66 and a 12 month high of $6.51. The stock has a market cap of $211.99 and a PE ratio of 299.00.

UTStarcom (NASDAQ:UTSI) last posted its quarterly earnings results on Monday, November 20th. The Wireless communications provider reported $0.07 earnings per share (EPS) for the quarter. The company had revenue of $26.03 million during the quarter. During the same quarter in the prior year, the company earned ($0.04) earnings per share.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Spark Investment Management LLC increased its position in UTStarcom by 116.4% during the second quarter. Spark Investment Management LLC now owns 48,700 shares of the Wireless communications provider’s stock worth $113,000 after buying an additional 26,200 shares during the period. Virtu KCG Holdings LLC purchased a new position in shares of UTStarcom in the 2nd quarter valued at approximately $141,000. Goldman Sachs Group Inc. grew its stake in shares of UTStarcom by 40.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 75,637 shares of the Wireless communications provider’s stock valued at $177,000 after purchasing an additional 21,678 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of UTStarcom in the 3rd quarter valued at approximately $297,000. Finally, Renaissance Technologies LLC grew its stake in shares of UTStarcom by 1.7% in the 1st quarter. Renaissance Technologies LLC now owns 829,197 shares of the Wireless communications provider’s stock valued at $1,625,000 after purchasing an additional 14,000 shares during the last quarter. 27.18% of the stock is currently owned by institutional investors.

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UTStarcom Company Profile

UTStarcom Holdings Corp. provides broadband products, solution and services. The Company delivers broadband transport and access (both wireless fidelity (Wi-Fi) and fixed line) products and solutions, optimized for mobile backhaul, metro aggregation, broadband access and Wi-Fi data offloading. Its segments include Equipment, which is focused on its equipment sales, including network infrastructure and application products, and Services, which is engaged in providing services and support of its equipment products and also the new operational support segment.

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